Day: October 29, 2019

Crypto Asset Management Firm Iconic Funds to Launch Bitcoin ETN 

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Iconic Funds, a leading regulated cryptocurrency asset management firm has announced plans to launch its Bitcoin Exchange Traded Note (ETN) of up to 100 million Notes, tracking the New York Stock Exchange (NYSE) Bitcoin Index (NYXBT). The ETN will be available to both retail and institutional investors, according to a press release on October 29, 2019. The Iconic Bitcoin ETN  At a time when U.S. regulators are still feeling quite reluctant to greenlight any Bitcoin Exchange Traded Fund (ETF) proposal, Iconic Funds has announced that it’s launching a Bitcoin Exchange…

Startup Aims to List Bitcoin Product on Frankfurt, Luxembourg Exchanges

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A German startup is attempting to list a Bitcoin (BTC) derivative product on the Frankfurt and Luxembourg stock exchanges. According to German business news daily Handelsblatt on Oct. 29, the startup Iconic has filed a prospectus for regulated trading of a Bitcoin exchange-traded note (ETN), which could become available as soon as the beginning of December 2019.   Iconic said that it will issue an ETN that will offer investors exposure to the seminal cryptocurrency on a regulated marketplace. The ETN will also be issued its own International Securities Identification Number. …

DAI in a Visa Card, Tether Sees Use in E-Commerce

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Ethereum-based decentralized stablecoin DAI is now spendable where VISA cards are accepted and leading stablecoin Tether (USDT) is seeing increasing use by e-commerce organizations. DAI now usable in E.U. stores According to a press release shared with Cointelegraph Oct. 29, collaborative financial platform 2Gether added DAI support to its platform. A spokesperson claimed that this is the first stablecoin added to the platform. As a result of the addition, 2Gether users can now spend their DAI like euros, without fees, anywhere where Visa is accepted with the dedicated card. Furthermore,…

Altcoins Prepare to Rally in the Shadow of Bitcoin’s Recent 42% Gain

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Last week Bitcoin’s (BTC) price action surprised the majority of the market and traders are now looking closely at altcoins to spot similarities that might signal a new altcoin market cycle.  Daily crypto market data. Source: Coin360 As Bitcoin surged, China-based altcoins began to break out of their downtrend and showed some significant increases. For example, altcoins like NEO rallied 101% and Ontology (ONT) quickly gained 128%. Let’s have a look at the altcoin market for an overview.  Altcoin market capitalization breaks the downtrend Total Altcoin Market Capitalization. Source: TradingView…

Analysts Expect Bitcoin Price Breakout as BTC Holds in $9,000 Range

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Yesterday, Bitcoin (BTC) plunged by $300 in literal minutes, falling to as low as $9,200 after consolidating in and around $9,500. There were many saying that this flash crash-esque move validated their bearish analyses, which implied that BTC would return to the $8,000s in the coming days. However, true to the volatile nature of the cryptocurrency market, Bitcoin has returned to $9,400 as of the time of writing this. This bullish consolidation has convinced analysts that a bullish breakout is impending. Satoshi Flipper, a popular altcoin-centric trader, noted that Bitcoin’s…

Upheaval at Bitcoin Mining Giant Bitman sees Jihan Wu Return to the Helm

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Bitcoin mining giant Bitmain is once again reportedly undergoing an upheaval within its upper hierarchy. Bitmain’s ex-figurehead Jihan Wu seems to be calling the shots, dismissing co-founder Micree Zhan. The news of the organizational restructuring at Bitmain comes as mining rival Canaan is moving forward with its U.S. IPO. Micree Zhan Reportedly Dismissed from Bitmain According to Primitive Ventures co-founder and trusted Chinese crypto news source Dovey Wan, Jihan Wu is back to running the affairs of Bitmain. In a series of tweets published on Tuesday (October 29, 2019), Wan…

Calibra Head David Marcus Touts Libra’s Money Laundering Standards

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Calibra CEO David Marcus recently claimed that the Anti-Money Laundering (AML) standards of Libra — Facebook’s proposed stablecoin project — will be better than other payments networks. Citing statements from Marcus’ speech at the Money 20/20 conference in Las Vegas, finance publication Finextra reports on Oct. 29 that he explained the nuances of the project during an interview. He said, ”I want to say that the efficacy of sanction enforcing can be much higher on Libra than other payments networks.” Marcus stated that the network’s underlying blockchain technology will allow…

Company Launches New Products as Futures Trading Surges

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Each time Bitcoin (BTC) rallies past the all-important $10,000 mark, analysts seek to attribute the rise to major events occurring across the industry. The crypto sector is young, volatile and one major announcement can send ripples across the market.  In recent weeks, the market was on a downward trend, but a number of major occurrences have lifted the spirits of the industry participants. Bakkt, a company that focuses on driving institutional investment in crypto, has long been hyped as playing an important role in impacting market valuations.  But Bakkt’s product…

Some Top-20 Coins Still Making Gains, Others Trade Sideways

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Tuesday, Oct. 29 — Most top-20 digital currencies are trading sideways today, with a few reporting minor losses. The markets are seeing mixed signals as of press time, according to the data from Coin360. Cryptocurrency market daily overview. Source: Coin360 Bitcoin (BTC) is down less than one percent over the past 24 hours and is trading at around $9,327 at press time. The major coin has seen moderate volatility over the past day, having dipped to as low as $9,191, with the intraday high reaching $9,571 at press time. Worldwide…

Canaan Creative Files for $400 Million IPO in the US

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Over the past few years, a whole new ecosystem has emerged due to the staggering growth enjoyed by Bitcoin, and one of the more well-known constituents of that ecosystem is Bitcoin miner maker Canaan Creative. In a new development, it has emerged that Canaan has decided to go public in the United States. Listing on Nasdaq The company wants to be listed on NASDAQ, and according to the documents filed by Canaan, it wants to raise $400 million from the listing. Bitcoin mining is the backbone on which the entire…